MBA in Finance in Germany

Germany has over 80 million people and a diverse range of religions, customs, and traditions that contribute to the country’s distinct culture. Germany is renowned for its long and illustrious history, which has seen it at the forefront of European ideas, politics, and art for over a thousand years. In this blog, you’ll get an insight into MBA in Finance in Germany.

Its borders include Denmark, Poland, France, Luxembourg, Belgium, the Netherlands, the Baltic Sea, and the North Sea. Furthermore, you can benefit from the fantastic transportation connections between Germany and other European countries while studying in Germany. This will enable students to visit and explore other well-known cities in Europe, enhancing their study abroad experience.

Why Study in Germany?

As a destination for business education, Germany offers a variety of MBA opportunities and long-term career prospects. Professionals interested in becoming aspiring managers are considering pursuing an MBA in Germany due to its high-quality education, affordable courses, and the presence of a robust economy. Students seeking higher education in Germany have the advantage of being able to select from a diverse range of programmes and schools. Students can choose from hundreds of MBA courses offered in the country by private and public institutions of higher learning such as business schools, art schools, colleges, technical colleges, universities, and universities of technology.

Students who choose Germany as their preferred MBA destination can either pursue a traditional MBA Degree that focuses on general management or takes a more unconventional approach and enrol in specialised MBA Programs that focus on niche industries such as healthcare management, consulting and logistics, to name a few. The fact that students can choose from such a diverse range of MBA programmes has propelled Germany to the forefront of global education.

MBA in Finance: Course Overview

Master of Business Administration in Finance Management or MBA in Finance Management is a two-year postgraduate programme that is concerned with the management of accounts and finances of companies for them to achieve specific financial objectives. The programme gives students in-depth knowledge of pricing, asset management, risk management, financial planning, and other topics. This course is open to students with a BBA or any other bachelor’s degree. Candidates who have completed a master’s degree in any other field of study should consider pursuing an MBA in Finance Management to advance their careers.

Finance Management is an excellent career path for students with strong financial knowledge and analytical skills, as well as those with a thorough understanding of financial models and the stock market. With its growing popularity, it is now possible to pursue it full-time, part-time, executive, and online.

MBA Finance courses cover a wide range of topics, including the cost of capital, financial planning, and financial management. Candidates learn how to apply theoretical knowledge in the real world of finance and trading during the programme. 

Must Read: Aerospace Engineering in Germany

Top Universities in Germany For MBA In Finance

MBA programmes in finance colleges in Germany include Executive, Online, and International MBAs. Six German business schools are listed among the top 73 full-time MBA programmes in Europe in the QS Global Ranking 2023. The best MBA finance colleges in Germany are as follows:

University	Fee in EUR Annually	Fee in INR Annually
Mannheim Business School	40,500 EUR	Rs 33,32,707
Frankfurt School of Finance and Management	38,943 EUR	Rs 32,04,583
WHU-Otto Beisheim Graduate School of Management	39,951 EUR	Rs 32,87,530
European School of Management & Technology (ESMT)	24,098 EUR	Rs 19,83,002
European Business School	24,214 EUR	Rs 19,92,547

MBA in Finance in Germany: Admission Requirements

The admission process for an MBA in finance in Germany varies by university. The online application procedure and the necessary documents, however, are still the same. You need to apply for admission from the official website of the university.

Documents Required

A student who wishes to pursue an MBA in finance in Germany must submit the following documents:

• Bachelor’s degree that is recognised
• Transcripts of Undergraduate Studies
• SOP
• LOR 
• Resume/CV
• English Proficiency Test score
• Working knowledge
• Financial Records

Eligibility Criteria

In Germany, there are two types of universities: public and private. Each university in Germany has its own set of prerequisites for admission to the MBA programme. In Germany, an MBA can be obtained without prior work experience, which is not the case in many other countries.

Because German colleges are not governed by a centralised authority, MBA requirements in Germany are quite diverse. The following are the general eligibility criteria:

• A bachelor’s degree in relevant fields is equivalent to a bachelor’s degree in Germany; it can be a four-year degree or a three-year degree with a one-year master’s degree.

• Valid GMAT/GRE/IELTS/TOEFL score. Exam scores are accepted differently by each university. Because most German colleges only require a valid TOEFL score, it is possible to apply for an MBA in Germany without taking the GMAT.

• Basic knowledge of the German language is required. Although most German colleges offer MBA programmes in English, having language skills is preferred.

• Working Knowledge

Cost of Living and Pursuing an MBA in Finance in Germany

Germany is one of the most cost-effective countries in Europe. You will spend about 902 EUR/Rs 74,230 per month as an Indian student studying in Germany. Your yearly living expenses as an international student in Germany will be approximately 10826 EUR/Rs 8, 90,760 with this monthly spending.

Students will incur the following expenses:

Types of Costs	Cost in EUR	Cost in Rs
Accommodation	400 EUR	Rs 32912 Approx Monthly
Transportation	200 EUR	Rs 16,456 Approx monthly
Study Materials	50 EUR	Rs 4114/- Monthly Approx
Health Insurance	103.94 EUR	Rs 8474 Monthly

If you are pursuing an MBA in Germany, the expenses will vary depending on the institute you attend. The fee is currently around 30K EUR/ Rs 2469174. Each university has its own set of tuition and fees. Students attending public universities that do not charge tuition must only pay a semester fee of approximately 500 EUR/ Rs 41152 per semester.

Scholarships

International students who want to enrol in a German university’s MBA programme in finance benefit from scholarships because they can use them to pay all or part of their tuition. Some of the best MBA scholarships in Germany for Indian and international students are listed below:

Scholarship	Eligibility	Amount
Semester Scholarships for Students of Indian Institutes of Management (IIM)	Students of IIM Ahmedabad, Bangalore, Indore, Kolkata, Kozhikode, Lucknow, or Udaipur in the second year of their postgraduate study	750 EUR/ Rs 61,729Health, accident and liability insurance cover
Master’s Scholarships for Public Policy and Good Governance (PPGG)	Graduates with a strong academic record want to pursue a master’s degree in a field that is particularly relevant to their native country’s social, political, and economic growth.	750 EUR/ Rs 61,729 monthly
Central Sector Scheme of National Overseas Scholarship	Indian students with good academic records	35956 EUR/ Rs 2959388/-
Friedrich Ebert Foundation: Scholarship for International Students	Students who have been accepted to a German Higher Education Institute and have an outstanding academic record are eligible to apply for the award.	Amount- 670 EUR/ Rs 55144/-

Must Read: Top Scholarships to Study in Germany

Job Profiles and Salary

Thanks to its cutting-edge infrastructure and growing demand for Business Management professionals, Germany is a hotspot for MBA specialists. MBA finance salary in Germany is quite promising. Students can work part-time while studying. Working as a student part-time in Germany can earn you a minimum wage of 9.19 EUR/Rs 781.35 per hour. This income varies according to where you live and what type of job you have. Some recruiters and pay scales are listed below:

Job Position	Company	Annual Package
Consultant	Siemens	79,000 EUR/ Rs 6.50 Cr yearly
Finance Manager	BMW	127,000 EUR/ Rs 1.04 Cr yearly
Project Manager	Deutsche Bank	83,000 EUR/ Rs 68.31 Lakh yearly
MIS Executive	Porsche	85,000 EUR/ Rs 69.95 Lakh yearly

FAQs

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